Economy

Borouge Announces Merger with Borealis and Acquisition of Nova Chemicals Abu Dhabi, United Arab Emirates – Borouge PLC, listed on the Abu Dhabi Securities Exchange, has announced significant developments regarding its agreement with the Abu Dhabi National Oil Company (ADNOC) and OMV Aktiengesellschaft (OMV). This agreement involves a proposed merger …

SALK Announces Strong Financial Results for 2024 with Notable Growth in Revenues and Profits Dubai, United Arab Emirates – SALK, the exclusive operator of toll gates in Dubai and listed on the Dubai Financial Market, has announced its financial results for the fiscal year ending December 31, 2024. The company …

In a notable economic development, recent data has shown that the monetary liquidity in the Saudi economy, known as “Money Supply M3,” has reached its highest level ever. For the week ending on February 20, 2025, the total money supply M3 reached 3.024 trillion Saudi Riyals, compared to 3.002 trillion …

In a significant economic announcement this week, Saudi Aramco, the global oil giant, reported net profits of $106.25 billion for the year 2024, reflecting strong growth in its financial performance. This announcement comes at a time when the company is witnessing a substantial increase in its revenues, further solidifying its …

In an unprecedented economic development, the world is witnessing a significant increase this week in the impact of artificial intelligence (AI) on labor markets and the global economy. AI technologies are now playing a central role in transforming various industries, from manufacturing to financial services and healthcare. Last week, “OpenAI,” …

US Tariffs and Their Global Impact: President Donald Trump announced the imposition of new tariffs on imported agricultural products, effective from April 2nd. This decision follows stalled trade negotiations with Mexico and Canada, where Trump mentioned that time is running out to reach new trade agreements with them. The new …

Oil prices saw a 1% increase on Monday, supported by strong data from China’s manufacturing sector, which boosts optimism about the global demand for oil. Factors Affecting the Situation: Chinese Data: The data showed growth in China’s manufacturing sector, indicating an economic recovery that could increase oil consumption. Future Outlook: …

In a surprising move this week, the Iranian parliament dismissed Minister of Economy, Masoud Bezishkian, amid rising criticism of President Ibrahim Raisi’s government due to the deteriorating economic conditions and the sharp decline in the value of the national currency, the rial. This decision comes after weeks of increasing pressure …

News Report: The global economy witnessed mixed developments this week, reflecting the uncertainty prevailing in global markets. Slowdown in China:The Chinese president acknowledged multiple challenges facing the national economy, with slower growth in factory output and retail sales. This slowdown reinforces the need for stronger economic stimulus to support sustainable …

Morocco is set to strengthen its position as a global leader in green hydrogen production, with the announcement of projects valued at approximately $300 billion. These initiatives aim to leverage the country’s natural advantages, such as abundant sunlight and vast land areas, to develop the green hydrogen sector. Details of …